Italian airline Alitalia has designated Silvano Cessano as CEO of the new company that will be formed when its tie-up with Abu Dhabi-based carrier Etihad is completed.
Etihad agreed to buy 49 percent of loss-making Alitalia in a €1.76 billion ($2.28 billion) rescue plan, giving it access to Europe’s fourth-largest travel market and 25 million passengers.
Cassano, who has more than 35 years of experince in senior management roles, will take up the position immediately after the deal’s closing, according to a statement for the company.
The agreement will be closed after obtaining approval by regulators. EU regulatory clearance is expected by the end of the year, according to a person familiar with the matter.
Cassano also served as Chairman and CEO of Italian shipping company Grandi Navi Veloci, CEO of fashion company Benetton Group, and CEO of Fiat Auto Financial and Consumer Services.